[SMM Analysis] August Ternary Cathode Materials Import and Export Volumes Increased Simultaneously; Imports Up 22% MoM, Exports Up 4% MoM

August Imports:
In August 2024, China's import volume of ternary cathode materials (total of NCM+NCA) was 5,401 mt, up 22% MoM and up 1% YoY. Among them, NCM imports were 4,933 mt, up 28% MoM and up 29% YoY; NCA imports were 468 mt, down 21% MoM and down 69% YoY.

SMM Analysis: The increase in NCM imports in August mainly came from Jiangsu, with an import volume of 3,926 mt, up 3,300 mt from the previous month. The decrease in NCA imports in August was mainly due to reduced imports in Shaanxi and Tianjin.

August Exports:
In August 2024, China's export volume of ternary cathode materials (total of NCM+NCA) was 7,931 mt, up 4% MoM and down 3% YoY. Among them, NCM cumulative exports were 7,378 mt, up 0.5% MoM and down 5% YoY; NCA exports were 552 mt, up 118% MoM and up 51% YoY.

SMM Analysis: The slight increase in ternary cathode materials exports in August was mainly due to the relatively stable NCM total export volume compared to July, with notable changes in exports to Poland and South Korea. Exports to Poland significantly decreased to only 1,442 mt this month, down about 1,500 mt MoM; however, exports to South Korea significantly increased, reaching 3,193 mt in August, up about 1,000 mt MoM. The significant increase in NCA exports was mainly due to the addition of 336 mt of NCA exports to Japan.